Here We Go Litecoin!
Pump up the Volume
The bulls seem to be reacting nicely this morning! Looking at Coin Market Cap, Litecoin has already jumped up 36% from yesterday, adding $1.7 billion to the volume! I guess the announcement a couple days ago of the release of LitePay on the 26th of February has had a pretty positive effect!
More Volume Please
Taking a look at the chart this morning you can see that the bulls have cranked up the volume of trading this Valentine's Day! After having a pretty tight, upward heading trading channel the last couple of days it seems that price has spring-boarded off the the hourly 50 VWMA, heading towards heights that haven't been seen since December.
Looking at the daily chart it appears that it is using the 200 day MA as support for this upward move. The downward triangle on this chart indicates a nice positive breakout that will hopefully prove to be substantial and sustainable over the next couple of days.
Check out my other crypto posts:
Big Gains for Ripple on the Horizon
If You Can't Fight 'em, Join 'em: Salon Offers Ads or Bitcoin Mining
XRP (Ripple): The Gateway Crypto
Thanks for reading! Please leave your comments below. Whether you agree or not, a lot can be learned from a good conservation!
Its going up because Microsoft blog mentioned it being in the top 3 blockchains Microsoft is considering for itself. it was in an attractive range already and the news was all that was needed.
I would think that if Microsoft was going to choose a blockchain for their identity authentication software that they would ultimately choose Ethereum as the blockchain to use. It has more upside than the other two. But positive news in the media is good for any coin for sure and being that it comes on the back on some other positive news definitely helps!